26 USC 6611 - Interest on overpayments

U.S Code last checked for updates: Jan 30, 2025

§ 6611.

Interest on overpayments

(a)

Rate

(b)

Period

Such interest shall be allowed and paid as follows:

(1)

Credits

(2)

Refunds

(3)

Late returns

[(c)

Repealed. Pub. L. 85–866, title I, § 83(c), Sept. 2, 1958, 72 Stat. 1664]

(d)

Advance payment of tax, payment of estimated tax, and credit for income tax withholding

(e)

Disallowance of interest on certain overpayments

(1)

Refunds within 45 days after return is filed

(2)

Refunds after claim for credit or refund

If—

(A)

the taxpayer files a claim for a credit or refund for any overpayment of tax imposed by this title, and

(B)

such overpayment is refunded within 45 days after such claim is filed,

no interest shall be allowed on such overpayment from the date the claim is filed until the day the refund is made.

(3)

IRS initiated adjustments

(4)

Certain withholding taxes

(f)

Refund of income tax caused by carryback or adjustment for certain unused deductions

(1)

Net operating loss or capital loss carryback

(2)

Foreign tax credit carrybacks

(3)

Certain credit carrybacks

(A)

In general

(B)

Credit carryback defined

(4)

Special rules for paragraphs (1), (2), and (3)

(A)

Filing date

(B)

Coordination with subsection (e)

(i)

In general

For purposes of subsection (e)—

(I)

any overpayment described in paragraph (1), (2), or (3) shall be treated as an overpayment for the loss year,

(II)

such subsection shall be applied with respect to such overpayment by treating the return for the loss year as not filed before claim for such overpayment is filed.

(ii)

Loss year

For purposes of this subparagraph, the term “loss year” means—

(I)

in the case of a carryback of a net operating loss or net capital loss, the taxable year in which such loss arises,

(II)

in the case of a carryback of taxes paid or accrued to foreign countries or possessions of the United States, the taxable year in which such taxes were in fact paid or accrued (or, with respect to any portion of such carryback from a taxable year attributable to a net operating loss carryback or a capital loss carryback from a subsequent taxable year, such subsequent taxable year), and

(III)

in the case of a credit carryback (as defined in paragraph (3)(B)), the taxable year in which such credit carryback arises (or, with respect to any portion of a credit carryback from a taxable year attributable to a net operating loss carryback, a capital loss carryback, or other credit carryback from a subsequent taxable year, such subsequent taxable year).

(C)

Application of subparagraph (B) where section 6411(a) claim filed

For purposes of subparagraph (B)(i)(II), if a taxpayer—

(i)

files a claim for refund of any overpayment described in paragraph (1), (2), or (3) with respect to the taxable year to which a loss or credit is carried back, and

(ii)

subsequently files an application under section 6411(a) with respect to such overpayment,

then the claim for overpayment shall be treated as having been filed on the date the application under section 6411(a) was filed.

(g)

No interest until return in processible form

(1)

For purposes of subsections (b)(3) and (e), a return shall not be treated as filed until it is filed in processible form.

(2)

For purposes of paragraph (1), a return is in a processible form if—

(A)

such return is filed on a permitted form, and

(B)

such return contains—

(i)

the taxpayer’s name, address, and identifying number and the required signature, and

(ii)

sufficient required information (whether on the return or on required attachments) to permit the mathematical verification of tax liability shown on the return.

(h)

Prohibition of administrative review

(Aug. 16, 1954, ch. 736, 68A Stat. 819; Pub. L. 85–866, title I, §§ 42(b), 83(b), (c), Sept. 2, 1958, 72 Stat. 1640, 1664; Pub. L. 87–834, § 2(e)(4), Oct. 16, 1962, 76 Stat. 972; Pub. L. 88–571, § 3(e), Sept. 2, 1964, 78 Stat. 858; Pub. L. 89–721, § 1(a), Nov. 2, 1966, 80 Stat. 1150; Pub. L. 90–225, § 2(f), Dec. 27, 1967, 81 Stat. 732; Pub. L. 91–172, title V, § 512(e)(4), Dec. 30, 1969, 83 Stat. 641; Pub. L. 92–178, title VI, § 601(d)(4), Dec. 10, 1971, 85 Stat. 559; Pub. L. 93–17, § 3(i)(2), Apr. 10, 1973, 87 Stat. 19; Pub. L. 93–625, § 7(a)(2)(C), Jan. 3, 1975, 88 Stat. 2115; Pub. L. 94–455, title XIX, § 1904(b)(10)(A)(iv), 1906(b)(13)(A), title XXI, § 2107(g)(2)(D), Oct. 4, 1976, 90 Stat. 1817, 1834, 1904; Pub. L. 95–30, title II, § 202(d)(4)(D),

cite as: 26 USC 6611